An example of a final good is:
A. chocolate used to make Cocoa Rice Krispies.
B. chocolate chips purchased by Nabisco to make Keebler chocolate chip cookies.
C. chocolate chips purchased by you to make chocolate chip cookies.
D. chocolate chips purchased by a restaurant to make a chocolate chip cookie pie to sell.
Answer: C
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Some companies subject their applicants to extensive tests. Why?
A) to reduce the informational asymmetry between the firm and the applicant B) to screen the applicant to avoid the problem of adverse selection C) to gather more information about the applicant D) All of the above.
Ceteris paribus means
A) "all variables are independent." B) "other things being equal." C) "some assumptions must be accepted without proof." D) "some theories are not rational."
Estimates of the values of which of the following non-market goods or services are included in GDP?
a. the value of unpaid housework b. the value of services provided by major household appliances purchased in a previous period c. the estimated rental value of owner-occupied homes d. All of the above are included in GDP.
Which of the following is NOT included in the money supply when the transactions approach is used?
A. money market deposit accounts B. currency C. traveler's checks D. transaction deposits